A $1.6 billion superannuation fund has pledged $40 million to a specialist disability housing provider via its impact investing subsidiary.
The superannuation fund's investment management arm Brightlight has made a cornerstone investment in DPN Casa Capace, which will help develop accommodation for National Disability Insurance Scheme participants nationwide.
Christian Super made the investment via the Brightlight Real Estate Impact Fund, hoping to help meet the demand for disability housing estimated to be worth $6 billion.
The funding will help build 25 disability homes in New South Wales, South East Queensland and Victoria.
The impact fund will receive equity in the properties in return.
DPN Casa Capace, a registered provider with NDIS, aims to scale its disability housing model to more than 750 homes in five years and is in discussions with other potential investors.
The DPN Casa Capace pilot, currently under construction in south-west Sydney's Oran Park, is expected to be completed in November.
Brightlight chief operating officer Matthew Zschech said the firm was impressed by DPN Casa Capace and its commitment to positively transform the lives of people through its progressive approach to the NDIS sector.
Brightlight confirmed it plans to make additional funding to the projects from various sources in the near future.
Christian Super launched Brightlight Group in June 2017 to provide investment consulting and management services to institutional clients.
It has over $310 million of impact assets under advice invested in 250 companies located in 54 countries.
Tim Macready, who is Christian Super's chief investment officer, is also the chief investment officer of Brightlight.